Tata Trusts’ FISE to raise $30 mn to fund social startups

Tata Trusts, the philanthropic wing of the Tata Group, is looking to raise nearly $30 million (Rs 192 crore) to invest in social enterprises.

The firm has received approval from the Securities and Exchange Board of India (SEBI) for a Category I alternative investment fund, with a $15-million green shoe option. The investment ticket size will be between $500,000 and $2 million, a company statement said.

The fund claims to be the country’s first-ever technology-focused fund investing in high-impact social enterprises. Called Social Alpha Fund-1, it is the third tier of the Social Alpha stack being built with Tata Trusts and the Foundation for Innovation and Social Entrepreneurship (FISE), said Manoj Kumar, co-founder and chief executive of FISE.

Not only does our e-newsletter highlight NextBillion's top articles, jobs and events, we also offer regular ticket giveaways to some of the key conferences in social impact – we've given away over $30,000 in tickets so far. Subscribe today!

No Thanks

Thank you for signing up to receive the NextBillion Notes newsletter.

We respect your privacy. Your information is safe and will never be shared.